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MBA urges FHFA to protect manufactured housing as Duty to Serve rule shifts
The Mortgage Bankers Association warned that any changes to how manufactured homes are defined, titled, and valued could affect lender participation and GSE secondary-market execution.
The Mortgage Bankers Association is pressing the Federal Housing Finance Agency to move carefully as it finalizes changes to its Duty to Serve rule, supporting an outcome-based framework but raising concerns about manufactured housing.
HousingWire reports the MBA backed FHFA’s shift toward more flexible eligible actions, while warning that potential updates to manufactured home definitions could create unintended consequences for chattel loans, collateral practices, and valuation and operational standards that influence whether lenders participate.
A central issue in the MBA’s comment letter to FHFA Director Bill Pulte is FHFA’s request for input on whether to adjust the manufactured home definition to better cover factory-built housing beyond units currently covered under the HUD code, including modular homes.
The MBA also said FHFA’s draft would shorten the DTS public input window on plans from 60 to 45 days, but urged the agency to keep 60 days, arguing that clearer standards for plan revisions and coordination with other federal efforts are needed as state titling and affixation rules create operational hurdles.